FormFactor, Inc. (NASDAQ:FORM) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of FormFactor, Inc. (NASDAQ:FORM) have earned an average recommendation of “Moderate Buy” from the eight research firms that are currently covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $59.63.

Several research firms recently weighed in on FORM. DA Davidson boosted their price objective on shares of FormFactor from $55.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Citigroup increased their price target on shares of FormFactor from $37.00 to $46.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. TD Cowen boosted their target price on FormFactor from $48.00 to $60.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Craig Hallum upped their price target on shares of FormFactor from $50.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Finally, B. Riley lifted their target price on FormFactor from $65.00 to $74.00 and gave the company a “buy” rating in a research report on Thursday, June 20th.

FormFactor Price Performance

Shares of FORM stock opened at $51.41 on Monday. The stock’s fifty day simple moving average is $54.45 and its 200 day simple moving average is $50.14. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.46 and a quick ratio of 3.67. FormFactor has a one year low of $30.64 and a one year high of $63.63. The firm has a market cap of $3.97 billion, a price-to-earnings ratio of 38.95 and a beta of 1.12.

FormFactor (NASDAQ:FORM) last released its quarterly earnings results on Wednesday, July 31st. The semiconductor company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.05. FormFactor had a return on equity of 4.18% and a net margin of 17.20%. The business had revenue of $197.47 million for the quarter, compared to analyst estimates of $195.01 million. On average, analysts expect that FormFactor will post 0.72 earnings per share for the current fiscal year.

Insider Buying and Selling

In other FormFactor news, Director Jorge Titinger sold 6,770 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $41.94, for a total value of $283,933.80. Following the completion of the transaction, the director now directly owns 12,970 shares in the company, valued at $543,961.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Rebeca Obregon-Jimenez sold 4,833 shares of FormFactor stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $57.59, for a total transaction of $278,332.47. Following the completion of the transaction, the director now directly owns 10,598 shares in the company, valued at approximately $610,338.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jorge Titinger sold 6,770 shares of the stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $41.94, for a total value of $283,933.80. Following the completion of the sale, the director now owns 12,970 shares in the company, valued at approximately $543,961.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,603 shares of company stock worth $1,001,986. Corporate insiders own 0.96% of the company’s stock.

Hedge Funds Weigh In On FormFactor

Several large investors have recently modified their holdings of FORM. Louisiana State Employees Retirement System grew its holdings in FormFactor by 0.5% in the 2nd quarter. Louisiana State Employees Retirement System now owns 38,800 shares of the semiconductor company’s stock valued at $2,349,000 after buying an additional 200 shares in the last quarter. Xponance Inc. lifted its stake in FormFactor by 5.1% in the 2nd quarter. Xponance Inc. now owns 4,925 shares of the semiconductor company’s stock valued at $298,000 after purchasing an additional 241 shares during the last quarter. Quadrant Capital Group LLC boosted its holdings in shares of FormFactor by 19.5% during the 4th quarter. Quadrant Capital Group LLC now owns 1,590 shares of the semiconductor company’s stock valued at $66,000 after acquiring an additional 260 shares in the last quarter. Arizona State Retirement System boosted its stake in shares of FormFactor by 1.5% during the second quarter. Arizona State Retirement System now owns 21,724 shares of the semiconductor company’s stock valued at $1,315,000 after purchasing an additional 331 shares in the last quarter. Finally, CWM LLC boosted its position in FormFactor by 25.5% during the 2nd quarter. CWM LLC now owns 1,823 shares of the semiconductor company’s stock worth $110,000 after buying an additional 370 shares during the period. 98.76% of the stock is owned by institutional investors.

About FormFactor

FormFactor, Inc designs, manufactures, and sells probe cards, analytical probes, probe stations, metrology systems, thermal systems, and cryogenic systems to semiconductor companies and scientific institutions in the United States, Taiwan, South Korea, China, Europe, Japan, Malaysia, Singapore, and internationally.